tango_gs

ohai Wrote:
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> What's a "normal" portfolio? University endowment,
> for instance, would be completely different from a
> pension plan and both could be very different from
> most individual investors.

Agreed. I worked for a university system with both a pension fund and endowment and the latter had a much larger allocation to alternatives.

Also, the equity/fixed income mix would also likely depend on whether the plan utilizes liability-driven investing (as does the corporate pension fund where I currently work) and on the funded status of the plan.